In India, when it comes to investing purposes, people choose real estate without second thoughts than any other sector. They usually trust real estate investing than other investment sectors in the market. Most individuals invest in this sector for two major reasons only. One is to gain higher returns. The other is the risk factor is less compared with other sectors of investments. Moreover, investors in Chennai are keener on buying 2 BHK rather than any other type of property. Why is that? Here are the reasons why 2 BHK is gaining popularity among investors.
Good investment with less money:
To make an investment for a longer run, then one could invest in buying 2 BHK undoubtedly. For the most part, if you 40 lakhs and so, you could either buy land, a simple flat or small 1 BHK house. But buying land and selling it after a few years would still make a profit. But buying a 2 BHK is profitable in two ways. You can either live there or gain rental income if you rent it.
You have huge potential buyers in Q:
In cities, bachelors and young couples mostly opt for 2 BHK. Not only that, but also nuclear families out there is in search of 2 BHK than 1 or 3 BHK. Because families having a fair number of people, say four or five mostly hunt 2 BHK house or flats only. Bachelors who fly over to Chennai for jobs, mostly prefer 2 BHK to stay with roommates. I have seen young professionals staying in 2 BHK flats in OMR Chennai to stay close to their workplaces.
Fair and sensible price for buyers:
Most families who have one or two children want 2 BHK to reside for an affordable price. Similarly, young couples who cannot afford a luxury living during the initial period of their marital life buy 2 BHK flats or individual house. In fact, a 2 BHK individual house is pocket-friendly to buy and comfortably to stay for a nuclear family.
More resale value with spaciousness:
For investment purposes, opting to buy 2 BHK is profitable. It is profitable for both investment purpose and resale value. You could see more resale value for 2 BHK from small towns to busiest metro cities. However, buying a 1 BHK with only bedroom and kitchen, you can rather buy a studio apartment. 2 BHK is more spacious and comfortable to live with parents who have children.
Easy to sell in the future:
As discussed earlier, selling 2 BHK is easier due to its huge demand in the market. However, selling any unit is easy in general. But selling a 2 BHK gains more profit during resale due to its increasing demand. Also, merely investing in 2 BHK does not fetch you high resale value to fill your pockets. Location contributes more when investing. So always keep this in mind when investing in a property. In effect, people are in a rush in investing in OMR due to its popularity as IT hub. Investing in flats and villas in Chennai OMR, you could gain good resale value and rental returns.
Saves your pocket from maintenance cost:
Rather than buying 3 BHK, 2 BHK cost you less for maintenance. The more spacious it gets, the more it costs for maintaining it. Still, a 2 BHK is spacious for a comfortable living and would save you from spending a huge amount of maintenance. So having this entire thing in mind, consider when making a decision in investing in a property purchase.